On Our Radar

On Our Radar

Google Stereo? Tech Giant Eyes Home-Entertainment System

Once known solely for its famous search engine, Google (GOOG) is now reportedly developing a new home-entertainment system that would be branded under its Android moniker and wirelessly stream music throughout the home.

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The report underscores how Google has increasingly encroached on the territory of other technology companies, especially, of late, consumer-electronics giant Apple (AAPL).

According to The Wall Street Journal, Google has been developing the home-entertainment system for several years and plans to unveil it later in 2012.

The device would wirelessly stream music stored on Google’s music-storage service and play it and potentially other forms of media like video through Google-designed speakers and other devices in the home, the paper reported.

Consumers would control the new system, which would be priced lower than current ones on the market, via a smartphone or tablet device, the Journal said.

This would represent the first instance that Google has designed and marketed consumer electronic devices under its own name.

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It’s not clear what retailers may be involved in selling the home-entertainment system. Best Buy (BBY), the world’s largest electronics retailers, sells a number of home-entertainment systems.

Google continues to expand outside of its niche search realm, developing its popular Chrome Web browser, Android operating system and Gmail e-mail service.

Shares of Google fell 0.8% to $606.88. Friday morning, mirroring a 0.80% slide on the S&P 500 amid concerns about the efforts to bail out Greece.